The danger posed by deepfakes goes beyond just the realm of cryptocurrency, as AI technology continues to evolve and potentially infiltrate sectors such as finance, healthcare, and government.
Sumsub’s Q1 report on global deepfake fraud, released on May 30th, reveals a shocking 245% year-over-year increase in deepfake scams worldwide. The report emphasizes the surge of deepfakes in countries gearing up for elections in 2024, including the US, India, Indonesia, Mexico, and South Africa.
Furthermore, the report highlights a rise in deepfake fraud across a range of industries. During Q1 of 2024, the sectors most impacted by deepfakes were crypto, fintech, and iGaming.
In comparison to the previous year, there was a significant uptick in the number of deepfake incidents, with a 1520% surge in iGaming, 900% in marketplaces, 533% in fintech, 217% in crypto, 138% in consulting, and 68% in online media.
The collaboration between Bitget and Sumsub will leverage AI-driven deepfake detection and fraud prevention techniques. This partnership is crucial for both companies to maintain stringent security standards and safeguard their users from the escalating threat of deepfake scams.
